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[sweepie2] 29/9/2022 11:29

RNS Number : 1425B
Hemogenyx Pharmaceuticals PLC
29 September 2022

29 September 2022




Hemogenyx Pharmaceuticals plc



("Hemogenyx Pharmaceuticals" or the "Company")





Half-year Report



Interim Results for the period ended 30 June 2022



Hemogenyx Pharmaceuticals plc (LSE: HEMO), the Standard Listed biopharmaceutical group developing therapies designed to transform blood disease treatment, announces its unaudited interim results for the six-month period ended 30 June 2022.



All financial amounts are stated in GBP British pounds unless otherwise indicated.



Key Highlights



· In final stages of preparation for filing an Investigational New Drug ("IND") application to commence clinical trials for HEMO-CAR-T, following positive feedback from the US Federal Drug Administration

· Continuing development of CDX antibody and Chimeric Bait Receptor antiviral/biodefence platform

· Bolstered the scientific team in preparation for clinical trials and cell manufacturing with two key appointments

· Following the period end, moved into state-of-the-art new laboratory facilities in Manhattanville, New York, with clean rooms and equipment enabling in-house cell manufacturing

· On track and on budget for initiating phase I clinical trials of HEMO-CAR-T, subject to approval



Fuller details of these developments are contained in the Interim Management Report below.



Commenting on the outlook for Hemogenyx Pharmaceuticals, Sir Marc Feldmann, Chairman, said:

"The Board is delighted with the continued high quality work of the Company and in particular with the steps taken to ensure that the difficult task of submitting a comprehensive IND application for HEMO-CAR-T is delivered efficiently. We anticipate taking HEMO-CAR-T, and indeed the Company, to their next phase of development, entering the clinical stage. At the same time, the Company's roster of other cutting-edge assets gives confidence that Hemogenyx Pharmaceuticals will make further important contributions to healthcare. We look forward to providing shareholders with more news as we gear up to becoming a clinical-stage company."



Interim Management Report



We are pleased to provide an update on the Company's activities over the six-month period ended 30 June 2022.



The six months concerned were a period of steady but very definite progress. This has been aided by our move to a state-of-the-art purpose-built laboratory facility which enables us to undertake research and manufacturing processes that we were previously unable to carry out in-house, and more importantly to progress our three main programmes, in particular HEMO-CAR-T. During the period under review, work also continued both on our CDX bi-specific antibody and Chimeric Bait Receptor ("CBR") platform.



HEMO-CAR-T



HEMO-CAR-T, a CAR-T therapy targeting Acute Myeloid Leukaemia ("AML"), is our lead product candidate, the intellectual property and development of which are in the Company's sole control. We have been working toward completing the necessary IND application for HEMO-CAR-T, having held detailed discussions with the US Federal Drug Administration ("FDA") during the period and received constructive feedback through a pre-IND submission that confirmed our development process and our proposals for clinical trials. Most of the data required for the IND application has been compiled and the components for manufacturing HEMO-CAR-T have been produced. We are now engaged in the final stages of establishing the production of HEMO-CAR-T cells for the treatment of patients. We are confident of completing the IND application in the near future and are working on detailed protocols for carrying out clinical trials.



The work is necessarily very detailed as the main concern in the process is to ensure patients' safety, which requires great care on the FDA's part and of course ours. We have been working with a group of Key Opinion Leaders in the treatment of acute leukaemias that has helped us to hone our approach to clinical trials. We are now in the process of finalising our trial protocol, which will involve a relationship with at least one major hospital, likely to include the University of Pennsylvania with whom we already have a working arrangement.



CDX Antibody



With the help of Selexis SA, we are in the process of establishing a CDX master cell line and a research cell bank ("RCB") which are necessary for the manufacturing of CDX for both IND-enabling studies and clinical trials. On 20 July, following the end of this reporting period, the Company's existing intellectual property protection for CDX was further strengthened by the China National Intellectual Property Administration granting patent number 201780034711.2, titled Method of Eliminating Hematopoietic Stem Cells/Hematopoietic Progenitors (HSC/HP) In a Patient Using Bi-specific Antibodies. This patent joins patents previously granted in the US for CDX and monoclonal antibodies used for the development of CDX and HEMO-CAR-T. The Company is exploring partnership options for taking CDX through final IND-enabling studies and into clinical trials.



CBR



We have also made significant progress with CBR, a novel platform technology that constitutes a new paradigm for treating viral infections. The essence of the CBR-based approach is programming immune cells using a novel type of modifiable synthetic receptor to destroy viral pathogens. This approach can also potentially be used to programme immune cells to destroy malignant cells causing certain types of cancer. Our scientists have achieved in vitro proof of concept for a CBR construct that neutralises all known variants of the SARS-CoV-2 virus that causes COVID, and have now completed preparations to test it against live replicating virus in a Biosafety Level 3 facility. The Company has filed a seminal provisional patent application protecting its rights to the intellectual property ("IP") covering CBR.



Personnel and Establishment



While we continue to keep a tight rein on costs, our preparations for clinical trials and manufacturing of HEMO-CAR-T have been greatly enhanced through the recruitment of a Medical Director and a Director of Quality. Dr Koen van Besien, one of America's top bone marrow transplant and oncology doctors joined us as Medical Director. Dr van Besien will oversee the development of the clinical trial programme for our HEMO-CAR-T. He is uniquely positioned to accelerate studies of HEMO-CAR-T in the clinic due to his rich experience and deep insight into the cutting-edge treatments of patients suffering from blood cancers.



We have also appointed Mr Stuart Tinch as Director of Quality. His great understanding and experience into the cutting-edge GMP manufacturing of viral vectors and cell therapies as well as his expertise in establishing and maintaining quality systems will help to accelerate Hemogenyx Pharmaceuticals' product candidates. Stuart will help us to establish manufacturing of our lead product candidate, HEMO-CAR-T, as well as potentially other cell therapies, according to the highest standards of quality to facilitate their transition into the clinic.



Finally, following the end of this reporting period we moved into our custom-built research and manufacturing facility in the Manhattanville district of New York City. The new facility includes two clean rooms for the cGMP ("current Good Manufacturing Practice") manufacturing of cell therapies including our own HEMO-CAR-T cells for the treatment of AML. These clean rooms have been through commissioning and validation and are ready to be certified. The new facility will allow us to take matters further in-house in areas which we previously outsourced as well as potentially to achieve significant savings.



Fundraising



During the period, the Company did not undertake any fundraising.



Financial Results



During the six months ended 30 June 2022, the Company recorded a loss of £1,300,653 (2021: £3,632,338 loss). During the six months ended 30 June 2022, the Company recorded a loss from operations of £1,143,243 (2021: £1,161,497 loss). The loss in the 2021 period includes financing related expenses of £2,650,232. The losses from operations in both the 2022 and 2021 periods were relatively consistent, reflecting the similar size of the employee base and conservative spending of our funding. The Company had cash and cash equivalents totalling £5,799,495 as at 30 June 2022.



The Company recorded no consultancy income during the period ended 30 June 2022 (2021: £98,995, relating to funds received from a third party under a research collaboration associated with humanised mice).



The Future



Hemogenyx Pharmaceuticals, aided by its commercial and scientific advisers, has continued to advance its programme of work across its portfolio while making optimal use of its financial resources. Current scientific work is focused primarily on preparations for taking HEMO-CAR-T to clinical trials which will constitute a significant milestone for the Company. Meanwhile, the team continues to progress its CDX and CBR assets, and to seek ways to further their development.



We have made good progress on multiple fronts over the period and I thank our dedicated staff, distinguished advisory team and our directors.

[the chairman elect] 29/9/2022 08:45

Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) ("Kavango") is pleased to report that infill soil sampling has successfully enhanced target resolution at its Kalahari Copper Belt ("KCB") licence PL082/2018, ahead of drilling.

Based on in-house data analysis, Kavango's technical team believes PL082/2018 is a possible analogue to Khoemacau's Banana Zone deposit, which sits immediately to the south of Ghanzi Ridge and which has been reported as having an estimated total mineral resource of 55.8Mt @ 1.1% Cu & 16.4g/t Ag.

HIGHLIGHTS

- Infill soil sampling has confirmed and extended the existing two target zones within PL082/2018 (announced >>> 26 August 2022) and added a third new target zone (the "Target Zones")

- 312 soil samples taken, to add to the 3,182 existing samples

- Line spacing reduced to 400m from 800m in prospective areas

- New Target

- The "Middle Zone" is located between the Northern Zone and Central Zone, with a 1.25km strike and peak value of 35ppm Cu

- Enhanced targets

- Northern Zone: strike length extended to 9km from 8km and maximum strike width extended to 650m from 400m

- Central Zone : elevated copper (Cu) levels along 27km strike length confirmed

- Next steps

- Up to 17km of Controlled-Source Audio MagnetoTelluric ("CSAMT") survey lines

- Reverse Circulation ("RC") and/or diamond drilling within the Target Zones

Kavango has provided a map showing the Target Zones at PL082/2018 on the Company's website, via the link below:

hxxps://www.kavangoresources.com/media-library/news-release-media/rns29september2022

Ben Turney, Chief Executive Officer of Kavango Resources, commented:

"This latest infill soil sampling on PL082 underscores Kavango's rigorous approach towards exploration, prior to drilling. The results are particularly encouraging in that they strengthen and extend our existing targets (the Northern and Central Zones), while adding a third entirely new target (the Middle Zone).

PL082/2018 is among the most promising of our 12 prospecting licences in the Kalahari Copper Belt due to its favourable regional geological structures, the consistent copper values we've encountered, and what we believe are significant geophysical similarities to Khoemacau's nearby Banana Zone deposit.

We now have mobilised CSAMT equipment to help us learn more about the subsurface structures in this area, as a final step before drilling."

[sweepie2] 29/9/2022 08:01

ORONTO, Sept. 28, 2022 (GLOBE NEWSWIRE) -- Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: WOI, OTC: WTCZF) (“Copper Lake” or the “Company”;) is pleased to provide the following update on the exploration program at its Marshall Lake copper-zinc-silver VMS project, situated in northern Ontario, as well as a corporate update.
Large-Loop Electromagnetic Survey

A large-loop EM survey (“LLEM”) was recently completed in the vicinity of the Deep IP discovery, where a new high-grade base and precious metal occurrence was discovered during diamond drilling in the winter of 2022. Highlighting the results of drill hole MAR-22-01, were the following drill intercepts:

8.13% Cu 1 , 7.26% Zn, 240.80 g/t Ag & 0.33 g/t Au (13.59% CuEQ 2 ) over 2.11 metres;
5.81% Cu, 7.32% Zn, 171.20 g/t Ag & 0.02 g/t Au (10.45% CuEQ) over 1.95 metres;
2.37% Cu, 1.75% Zn, 413.15 g/t Ag & 0.37 g/t Au (7.00% CuEQ) over 6.00 metres;
including 2.26% Cu, 2.66% Zn, 1,580 g/t Ag (55.7 oz/t Ag 3 ) & 1.28 g/t Au (18.12% CuEQ) over 1.21 metres.
Collectively, the LLEM survey and previously completed borehole EM surveys delineate a prominent conductive centre comprising strong to very strong conductors, centred at a depth of 300 metres below surface (Figures 1A). The conductive center, approximately 500 metres by 300 metres in extent, is situated along the stratigraphic trend and at greater depth than the high-grade intervals obtained in hole MAR-22-01. The size, strength and location of the conductive centre is very encouraging and strongly suggests that additional high-grade mineralization may be present in the surrounding area of the Deep IP discovery. The conductive centre has never been tested by drilling, and is clearly now a high-priority target.

The LLEM survey also yielded a compelling build-up conductor, situated at a depth of 500 metres below surface (Figure 1B). It appears to be the down-dip extension of the conductive centre and accordingly, significantly increases the prospective target area for potential massive sulphide mineralization. Additional LLEM surveying is required on this conductor prior to diamond drilling in order to better define its size, orientation and strength.

A number of other conductors were also defined by the LLEM survey, including three Priority 2 conductors (Figure 2). These conductors are located near zones of strong hydrothermal alteration associated with VMS deposits and mineralization that has not been tested by previous diamond drilling. In addition, 3 large build-up conductors (Priority 3 conductors) were defined to the north of the conductive centre and on the fringes of the LLEM survey grid. These conductors are located at depth (>300 metres below surface) and have not yet been drill-tested. Notably, surface outcrops overlying these conductors have returned significant copper values of up to 6%.

Due to swampy conditions that create significant logistical problems, the diamond drilling on the Deep IP discovery will not commence until freeze-up conditions are in effect, likely in late November or early December 2022. Drilling of some of the other conductors may occur at the same time. The Company is currently soliciting bids from drilling companies to complete this work.

Additional LLEM Surveying

In view of the ability of the LLEM surveys to see conductors at much greater depths (>300 metres) than that of historic geophysical surveys, the Company is planning to perform LLEM surveys on other prospective areas of the property in efforts to define additional deeper drill targets. These areas include the Teck Hill-Gazooma and Gazooma North-RM-Lease target areas (Figure 2). Such target areas have returned shallow historic drill intercepts of 2.05% copper, 33 g/t silver & 0.31 g/t gold over 26.9 metres as well as 1.38% copper, 54.0 g/t silver & 0.10 g/t gold over 43.0 metres , respectively. Historic drilling deeper than 150 metres below surface is rare on the above target areas and elsewhere on the Marshall Lake Property.

The LLEM surveying is expected to be completed this fall by Abitibi Geophysics, prior to commencement of diamond drilling.

1 Analyses completed by Activation Laboratories in Ancaster, Ontario, Ontario utilizing the 1A2 – Fire Assay AA finish, IH INAA (INAAGEO)/Total Digestion (Total) and the UT-7, Sodium Peroxide Fusin (ICP & ICP MS) analytical packages
2 %CuEQ calculated using metal prices of US$3.87 per lb. for Cu, US$0.89 per lb. for Pb, US$1.65 per lb. for Zn, US$21.39 per oz. for Ag & US$1839.40 per oz. for Au
3 Conversion rate: 1 gram/tonne = 0.03527396 ozs . /tonne

OJEP Funding

The Company is pleased to announce that it has been informed by the minister of Northern Development for Ontario, the Honourable Greg Rickford, that Copper Lake Resources has been accepted to participate in the Ontario Junior Exploration Program for up to $200,000 towards the cost of the current Marshall Lake project work program. Terry MacDonald, CEO stated, “We are very pleased to have been allocated OJEP funding under the Government of Ontario’s Critical Minerals Strategy. We look forward to contributing to the success of the Government’s goal of identifying new deposits of critical minerals in Ontario.”

Private Placement

The Company provided an update on its $2,500,000 private placement in its September 6, 2022 News Release. The Company is looking to raise a total of $2,500,000 in the Private Placement, consisting of up to 8,333,333 Non Flow-Through Units (“NFT Units”) at a price of $0.09 per NFT Unit and up to 17,500,000 Flow-Through Units (“FT Units”) at a price of $0.10 per FT Unit. Each NFT Unit is comprised of one common share in the capital of Copper Lake (a “Common Share”) and one Common Share purchase warrant (a “Warrant”;). Each FT Unit is comprised of one Flow-Through common share and one-half of one Common Share purchase warrant (each whole warrant a “Warrant”;). Each Warrant entitles the holder to acquire one additional share at an exercise price of $0.15 per Common Share for a period of 36 months from the closing date.

The Company had announced that it closed a first tranche of units on August 11, 2022 for gross proceeds of $1,346,250. The Company now plans to close the final tranche on or about October 13, 2022.

[the chairman elect] 29/9/2022 08:00

Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining



Bougouni Project DMS Development Opportunity



Kodal Minerals, the mineral exploration and development company focused on lithium and gold assets in West Africa, is pleased to provide an update on the potential for initial rapid development of its Bougouni Lithium Project in southern Mali ("Bougouni" or the "Project"). The Company continues to review opportunities to accelerate the development of the Project through a faster and lower capital cost dense media separation ("DMS") processing plant option, that will provide an opportunity for the Company to take advantage of the near-term high price environment in the lithium market.



Highlights of the DMS option:

· Capital development cost for the DMS plant and all associated infrastructure and commencement of mining is estimated at US$65 million, generating an estimated NPV7% of approximately US$557 million (US$420 million post-tax) and, based on full equity funding, a short payback of 2 months from commencement of operations.

· The DMS option is based on:

o processing material from the Ngoualana deposit feeding 1Mtpa of lithium ore to a DMS processing plant

o utilising a conventional circuit to maximise spodumene recovery of over 130,000 tonnes per annum of spodumene concentrate

o an initial 4 year mine life.

· DMS operation revenue forecast to exceed US$1.05 billion in less than 4 years, based on prevailing broker consensus pricing averaging US$2,080 per tonne (FOB basis).

· The DMS operation targets production of a 5.5% Li2O spodumene concentrate product which is consistent with other producers currently active in the market.

· Future expansion of the Project is expected to continue with the construction and commissioning of a down-stream flotation plant expected to be supported by utilising the DMS plant cash flows in order to exploit the resources at Sogola-Baoulé and Boumou, as well as longer term exploration prospects.



Bernard Aylward, CEO of Kodal Minerals, remarked: "The DMS plant scenario provides Kodal with a fast-track option towards achieving our goal of becoming the first operational lithium mine in Mali. At much reduced capital and operating costs, and an expected construction timeline of around 12 months, the DMS development option provides Kodal with a near-term solution to take full advantage of the continuing buoyant lithium market.



"The DMS option has a current mine life of nearly 4 years. This is based on mining all resources at the Ngoualana pit which boasts the highest grade ore of all deposits, with potential to supply additional DMS ore feed from adjacent exploration prospects where previous drilling has intersected with high grade pegmatite veins at Bougouni South, Marigo and Orchard. Importantly, the existing upside from the Sogola-Baoulé and Boumou deposits would be retained and processed in a future flotation plant which can be funded from the DMS operation project cash flows.



"This update utilises prevailing broker consensus pricing for the sale price of spodumene concentrate which has recently traded at spot prices above US$5,000 per tonne. The life of mine average concentrate price for the fast track DMS proposal is US$2,080/t.



"The lithium market continues to be very strong and our Bougouni Project continues to attract strong interest. The DMS development option has attracted interest from the wider market, and Kodal is progressing discussions with market operators and potential financing partners. The Company will provide further updates as discussions progress."

[the chairman elect] 28/9/2022 10:42

KODAL MINERALS PLC / LSE:KOD - will be holding a Post-AGM Presentation and Shareholder Q&A on 29th Sep 2022 at 11:20am BST.

Please click on the button below to accept the meeting invitation.

Accept

Should you have any questions, please contact [e-mail].

Kind Regards,

The Team at Investor Meet Company

[sweepie2] 28/9/2022 10:26

Tern Plc

("Tern" or the "Company")



Investor webinar recording



Tern Plc (AIM:TERN), the company focused on value creation from Internet of Things ("IoT") technology businesses, announces that a recording of the investor webinar held on 26 September 2022 and featuring presentations by Tern's portfolio companies, Talking Medicines, Device Authority and Wyld Networks, together with a question and answer session, is available to view on the Company's website at: hxxps://www.ternplc.com/resources

[the chairman elect] 28/9/2022 07:55

Keras Resources plc (AIM: KRS) / LSE:KRS - announces its half year results for the six months ending 30 June 2022.



Overview

· Substantial progress has been made towards building our business into a cash-generative producer of high-grade premium organic fertiliser in the North American market

· Increased ownership of the Diamond Creek phosphate mine, Utah, US to 100% - now in full control of mine to market activities

· All permits and authorisation approvals renewed in line with the project's licence obligations at Diamond Creek - in the process of expanding permitted mining footprint

· Record sales in August 2022 of 700t (40% in excess of budget) and repeat forward orders resulted in extended mining campaign to produce additional tonnage

· Sales guidance of between 7,500 tons and 8,000 tons of phosphate product forecast from September 2022 to June 2023 at an all-in sustaining cost (AISC) margin of between $80 and $100 per ton

· Targeting 25,000 tons per annum of phosphate product as our medium-term annual sales objective into a market which is expected to grow at 8% per annum in tonnage terms as well as 14% in value terms

· As a result of the extended mining season, drilling programme to further define the ore reserve at Diamond Creek will now commence in spring 2023

· Successful placing of £1.95m (before expenses) raised at a premium supported by cornerstone investor First Uranium Resources Ltd

· Board changes implemented

o Graham Stacey appointed as CEO in June, with Russell Lamming moving to Non-Executive Chairman and Brian Moritz moving to Non-Executive Director

o Claire Parry joining as Independent Non-Executive Director with Dave Reeves stepping down

· Continued focus for 2022 and beyond is increasing the Company's market share in the North American organic fertiliser market and building Diamond Creek into the premier organic phosphate producer in the US



Graham Stacey, Keras Resources Chief Executive Officer, commented, " Our vision remains to build Diamond Creek into the premier organic phosphate producer in the US and we have made real progress over the past few months having acquired 100% in the business and focussing our efforts on resetting the business, starting to ramp up sales and timing production from our mine and milling facilities to meet our sales targets. We produce a high-grade, premium phosphate product that supports soil health, regenerative agriculture and provides investors with direct exposure to the buoyant global fertiliser industry. We believe we are ideally positioned to capitalise on the robust fundamentals of the sector and look forward to further building on the foundations we have laid to date, producing both a valuable and essential commodity whilst generating returns for our stakeholders."

[sweepie2] 27/9/2022 15:22

Global leader in IoT device identities, Device Authority continues to grow its North American team with the addition of experienced IoT sales leader, David Bennett.



Device Authority’s KeyScaler platform automates zero trust security for IoT at scale, providing its global customer base with complete device, data and operational trust. With a stronghold already in the Healthcare, Automotive, Oil & Gas and Industrial sectors, David’s appointment allows the team to continue to strengthen its presence and help companies to deploy safe and secure IoT at scale whilst complying with the increasing IoT legislation.



David’s experience stems from 10 years at eMation, later known as Axeda, where he progressed from the first salesperson to VP. Here he was a key contributor in the company acquiring 130 customers and establishing itself as the leader in its space before being acquired by PTC and becoming part of ThingWorx IoT Application Enablement Platform (AEP). He has also spent time in key roles within Oracle, WindRiver, BSquare and Zededa, assisting with their building of IoT programs.



More recently David has also been an advisor to ‘InSkill’; an organisation which uses AI to capture knowledge and upskill workers in a bid to tackle the global skilled worker gap.



Commenting on David’s appointment to the team, Device Authority CEO Darron Antill said, “It is great to welcome someone with David’s calibre of experience in IoT, AI and Machine Learning to our growing US team. His knowledge of the IoT landscape is invaluable and his forward thinking approach will ensure that new and existing customers will benefit from a solution that continues to meet the needs of their IoT operations as they continue to grow and as technology and threats evolve.”



David Bennett added, “As someone with extensive experience in the IoT space, I am excited to have joined a company that is truly making automated device security possible as the complexities around securing devices has always been a significant barrier to the deployment of IoT at scale. I’m looking forward to working with the growing team in North America to continue to build on Device Authority’s impressive customer portfolio.”




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Claire Tennant
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[noirua] 27/9/2022 09:12

Still holding shares in RRR and present holding at just under 8.8 million. As average purchase price paid stands at just under 0.4p a paper loss at the moment. Some shares were previously sold and money was invested in ASX: BUX at 10c - now at 9.9c so another minor paper loss.

[noirua] 27/9/2022 09:07

I have sold all shares in WEB yesterday for a 3.8% profit.

[the chairman elect] 27/9/2022 08:30

Emmerson PLC / Ticker: EML / Index: AIM / Sector: Mining [POTASH in Morocco]

Director/PDMR Shareholding

Emmerson announces the purchase of ordinary shares of nil par value in the capital of the Company ("Ordinary Shares") by Jim Wynn, CFO and a PDMR. Mr Wynn purchased 159,872 Ordinary Shares at 6.25 pence per share.

[the chairman elect] 27/9/2022 07:56

United Oil & Gas PLC (AIM: "UOG") / LSE:UOG, the growing oil and gas company with a portfolio of production, development, exploration and appraisal assets is pleased to announce its unaudited financial and operating results for the half year ended 30 June 2022. A shareholder call will take place this morning, details are below.

Brian Larkin, CEO commented:

"The Company's balance sheet is the strongest it has ever been and in the first half of the year we have continued an active work programme across our portfolio of assets.

"We look forward to drilling both the ASH-4 development well and ASF-1X exploration well on the Abu Sennan licence by the end of the year. Successful outcomes on these wells have the potential to significantly increase production levels, add reserves, and boost the longer-term value of the Abu Sennan licence.

"United's portfolio consists of complementary assets that have the potential to provide short, medium and long term upside to all our stakeholders and provides a platform for growth. Abu Sennan in Egypt continues to deliver production and strong cashflows, Maria in the UK contains a discovery with a potential development adjacent to some of the largest oil fields in the Central North Sea, and Jamaica, where the Walton Morant licence offers access to high impact exploration potential with a quality drill-ready prospect."

[the chairman elect] 26/9/2022 10:45

London listed Potash play EMMERSON / LSE:EML

Graham Clarke, CEO of Emmerson commented: "I am very pleased with the progress that the Emmerson team have made at Khemisset in recent months, working with our Moroccan partners Reminex. I am particularly delighted to be able to announce the continued support from GSM and GQC. This further investment from our strategic investors demonstrates their continued commitment to the Khemisset project and their confidence in Morocco. Emmerson is funded for all anticipated technical and working capital requirements. This is a world-class potash project with huge potential and I look forward to working with a range of Moroccan partners to take it to the next stage. In view of the strong interest we have received from banks and other investors keen to invest in this exciting Moroccan venture, we expect to pull together the full financing package for the construction phase rapidly, once the remaining environmental approvals have been received."

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Chief Executive Graham Clarke said: "I am pleased to report that we have made strong progress in 2022 to date towards completing the basic engineering and technical workstreams as part of finalising the design of the Khemisset project. We are now well placed to move rapidly towards concluding the financing for the construction of the mine, once the final environmental approvals are received. Although these approvals have been taking longer than we had originally anticipated, the Moroccan authorities have assured us of their support for the Project, which all parties recognise has a significant role to play in the context of the global crisis around food security, of which potash supply is a key element.

"Today we announce the extension of our US$40 million financing commitment with Global Sustainable Minerals Pte Ltd and Gold Quay Capital Pte Ltd, together with a US$6 million placing for new equity. These agreements demonstrate the ongoing support of our strategic investors and leave us funded for our remaining technical workstreams up to financial close. Once we receive the final environmental approvals, we expect financial close to take around six months if all goes well, and construction to commence soon thereafter. Subject to progress in the coming months on the environmental permit, we would hope to be able to commence construction in the second half of 2023. "

[the chairman elect] 24/9/2022 11:30

London listed Botswana focused Kavango Resources / LSE:KAV

BOOTS ON THE GROUND

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23rd September, 2022

A timely recap on our projects across Botswana

from the desk of BEN TURNEY, CEO @ Kavango Resources / LSE:KAV

Dear Reader,

I think one of our key strengths has always been the high quality of the exploration projects we have in our portfolio.

It’s not over-egging the pudding to say that we have four potentially company-making projects spread across our extensive Botswana portfolio.

On the KSZ alone, there’s the potential for a Norilsk lookalike target at depths of five or six hundred metres, while deeper down in the Great Red Spot the target bears up to significant comparison with Olympic Dam.

It’s rare to find a company with two such high quality targets in the same portfolio, let alone on the same licence.

And of course, where we’re concerned here at Kavango…

It doesn’t stop there!

There’s also the huge upside available from our Kalahari Copper Belt projects, and the intriguing potential at Ditau, which may yet turn us - and Botswana - into a major player in rare earths and a meaningful producer of gold too.

With such a broad range of properties and potential, you might wonder how we keep all the balls in the air at the same time.

It’s hard work, but we’ve been able to move forward with all our projects in recent months, and more to the point, we’ve got plenty more activity lined-up for the rest of the year and into 2023.

Indeed, in this instalment of Boots on the Ground, I want to recap and review where we are on some of these key projects.

Let’s start with the KCB

Of most immediate significance will be our plans on the Kalahari Copper Belt project.

Here, as you know, we recently identified a highly prospective drill target at Mamuno, with attractive grades showing up in soil sampling. The Mamuno licences are housed in our Kanye Resources vehicle, together with PL036, PL037 and a number of other licences. This land package is attracting a great deal of interest and I hope to be able to announce some news on this later on this year.

Meanwhile across the wider KCB, we’ve just taken our interest in the LVR joint venture to 90%, following the acquisition of a 65% stake that completed on 16 September.

That cues us up nicely for a maiden drilling campaign on the KCB, given that the LVR joint venture incorporates two prospecting licences covering a total area of 809 square kilometres.

In an area that’s known to be highly prospective for copper, that’s a sizeable chunk of ground to have, and although a firm date for drilling has yet to be set, one of the licences, PL082, isn’t far off being ready.

As it stands, PL082 has already yielded significant copper-in-soil anomalies, with XRF showing a peak value of 118 parts per million copper.

A more detailed understanding of grade at PL082 will have to await the investigations of the drill bit, but we do already know something of the extent of this prospect.

And it’s not small.

What we’ve called “the Central Zone” has a strike length of 27 kilometres, while the strike length at “the North Zone” rings in at eight kilometres. These are big strike lengths by anybody’s reckoning and give a clear indication of the kind of project scale we might be looking at down the line.

Separately, it’s possible that the PL083 licence, which is also encompassed in the LVR joint venture, has significant, previously unrecognised, prospective potential.

However, we don’t really know enough yet to say one way or the other, and our geophysics team is busy working up models to enable us to approach this ground in a meaningful way.

If we get it right, the payoffs might be huge. PL083 is largely unexplored ground, so anything that is there won’t have been missed by other companies, it just won’t have been looked for in the first place.

As ever with our work in Botswana, geophysics will be key. The huge advances that have been made in this area of geological science over the past few decades have enabled companies like ours to work up ground that would have been deemed unworkable in, say, the 1970s.

The Kalahari sands are deep – in places hundreds of metres deep – but these days, with the help of new tools, we can see deeper.

Which leads me to the KSZ

Certainly, that’s been true of the KSZ over the years, where our understanding of the geological structures there has been based around significantly more sophisticated exploration equipment and techniques than were available to our junior mining forebears of a generation or so ago.

In the case of KSZ, and particularly with reference to the Olympic Dam-style target that seems to lie at depth there, we’ve been able to apply a whole new technique – Controlled Source AudioMagnetoTellurics (CSAMT) – which wasn’t available to the original discoverers of Olympic Dam back in the 1970s.

The application of CSAMT has reaffirmed the insights gleaned from modelling done using older, tried and true techniques at the deeper depths of the KSZ, and only goes towards enhancing our confidence that we are thinking along the right lines.

In any case, it’s possible now that the immediate focus at the KSZ will switch back to the shallower areas that look prospective for nickel and copper.

I mentioned last time out that we recently appointed Tamesis to take the lead in our efforts to find a partner for the development of the KSZ, an announcement which came shortly after we issued Richard Hornsey’s ‘Proof of Concept’ report on the KSZ itself.

This report provided proof of the existence of nickel, copper, and platinum group metals-mineralising processes throughout the KSZ, in both the Karoo and Proterozoic Zones…

It highlighted previously unrecognised potential for mineralisation in the south of the project…

And it added other styles of potential mineralisation to the Norilsk-style that we had hitherto been working with. In particular, we are excited by the Platinum Group Element potential in the KSZ South.

This type of affirmation ought to carry a significant amount of weight with the potential partners that Tamesis will be lining up for us.

What type of deal eventually comes on to the table remains to be seen, but it’s long been recognised both inside the company and in the wider market that we’ve been punching above its weight at the KSZ.

Drilling to the depths we’re drilling, working up the models we’ve worked up, and having the aspirations we have – all are more appropriate to much larger mining companies.

Indeed, it’s fair to say that hardly any other junior exploration company has been able to achieve the kinds of things we’ve achieved over the past few years and, what’s more, most don’t even bother trying.

But we’ve always had big aspirations, which is why, if and when we do hit mineralisation at the KSZ, it’s likely to be big, and will require a partner to develop.

Whether we’ll end up needing a partner at Ditau is another matter entirely.

Not forgetting Ditau

Of course, Ditau is a completely different animal, both in terms of target and in terms of scale.

Until the most recent set of drill results we had primarily viewed Ditau as a rare earths opportunity, looking to capitalise on the increased demand for rare earths sourced anywhere other than China, and particularly from safe jurisdictions, like Botswana.

In late August, though, came the news that significant showings of gold had been uncovered in our latest round of drilling at Ditau, along with associated copper.

That sent us back to our models to revisit our previous conceptual work, and we are still in the process of updating our understanding of the geological systems at work at depth at Ditau.

Some reports, on petrology in particular, have yet to come in, so there are still important datasets that will become available to us that we haven’t yet fed into our models.

At this stage, all we really know is that there’s a zone of interest, that there’s an iron-rich hydrothermal breccia that starts at a depth of just over 290 metres, and which extends beyond the depths to which our hole drilled at 393m.

So, we know there’s material down there that’s worth following up on. We’re just working out how best to do it.

Once the remaining data from the recent campaigns comes in, we will also be considering how best to follow up on the other holes that we drilled.

In the meantime, we still have eight drill targets on Ditau which remain untested, and which we still believe have significant potential to yield up a carbonatite structure of the kind that we’re hoping to find rare earths in.

Exactly which of those targets we turn to next remains up for discussion, but we hope to be moving forward on Ditau in a variety of significant ways sooner rather than later.

As things stand today, it seems that the most immediate opportunity we have for making a discovery lies on the KCB, and it’s certainly true that if we do make a discovery there it will be easier to move into production than anything on the KSZ.

One reason for that is that while other companies have successfully developed copper mines in Botswana in the recent past, there’s nothing quite like the KSZ – not in Botswana, and maybe not anywhere.

So, we’ll be breaking new ground in several different ways if we do manage to get the KSZ up and running in a meaningful way.

Whatever happens, though, it looks likely to be quite a ride, with opportunities for value creation jumping out at us from several directions, and lots of near-term newsflow to keep things interesting.

And on that side of things, I’ll be sure to keep you updated.

Best wishes,
M.B. Turney
Ben Turney
CEO
Kavango Resources

[noirua] 23/9/2022 18:59

Lots of long posts that I will read over the weekend.

Doubled my holding in RKH Rockhopper at a little over 14.14p. Increased holding in RRR Red Rock by 8% at 0.385p approx - reversed very badly on cash raising showing company short of cash.

Sold TYM at a 13% loss.

[the chairman elect] 23/9/2022 07:33

Tirupati Graphite plc (TGR.L, TGRHF.OTCQX), the specialist graphite and graphene company developing sustainable new age materials, is pleased to provide a progress update on the ongoing developments and operations of the Sahamamy and Vatomina projects and further decisions taken by the Company to optimise the development of its Madagascar projects and operations.



Vatomina operations and development



· As announced on 15 August 2022 the Vatomina preconcentrate plant relocation and recommissioning was completed by mid-August 2022.

· The Company is pleased to advise that:

o The preconcentrate plant has achieved the name plate ore feed capacity of 600 tons per day and is in regular operation at or above nameplate ore feed capacity since the beginning of September 2022;

o The preconcentrate plant, pumping of preconcentrate, and final concentrate plant operations are synchronised to enable smooth and constant operation;

o The Company has initiated construction of a second preconcentrate plant at Vatomina with the objective of completing this by the end of October 2022;

o The final concentrate plant has a current capacity to go up to 12,000 tons per annum ("tpa") output and to 18,000 tpa with minor additions;

o As the head grade is optimised over the next quarter from below 3% to the estimated >4%, the Company may take further steps to optimise the Vatomina project to reach 18,000tpa output capacity;

o Strengthening of internal roads and other infrastructure continues to seek to mitigate the risks from adverse weather conditions in the future.

· With reduction in ore movement activities, the current heavy earthmoving mining machinery ('HEMM') fleet is also being utilised for development activities related to the second preconcentrate plant and opening of additional nascent deposit areas.



Sahamamy operations and development



· The existing 3,000 tpa plant at Sahamamy is now operating at near rated capacity and, to seek to optimise operating costs, the dehydrated concentrate from the plant is being further processed and finished at Vatomina.

· Upon completion of the Vatomina second pre concentrate plant, the company has decided to decommission the 3,000 tpa operation. The equipment used at this plant will be redeployed into the reconfigured operations with two pre concentrate and one final concentrate plants at each of the two projects.

· Construction of both pre-concentrate and main processing plants at Sahamamy continues to progress and is in the final stages of completion.

· Installation, commissioning and trial runs will commence in the next two weeks and production ramp up is expected to complete by the end of the end of 2022.

· The commissioning of the 100Kw hydro power plant ('HPP'), the c. 800m power evacuation overhead line and all facilities are now complete. Trial runs and first power generation are expected to commence from mid October 2022.

· The HPP is estimated to save c. 350-400 litres of diesel consumption per day.

· The Company has initiated activities for furthering the development of a second 400Kw HPP prospect in Sahamamy.

· With the experience gained by the Company in the first HPP plant established, it is well placed to fast track the progress of any second plant, which is expected to save a further c. 1400 - 1600 litres of diesel consumption in power generation once completed.



Guidance on output over the forthcoming two quarters



With the transformative changes in the operations and development in the current quarter, reducing uncertainties and mitigating operational risks [and with £1 million of gap funding being secured through the capital raise through Convertible Loan Notes announced on 8 August 2022,] the Company is now well placed to provide guidance on expectations on flake graphite production. The reorganisation will result in the Company having a net ore throughput capacity of 2,400 tons per day and a name plate capacity of 36,000 tpa flake graphite production per annum across the two projects. The Company is therefore pleased to provide the following estimated production guidance for the forthcoming two quarters:



Period

Vatomina (tons)

Sahamamy (tons)

Total

(tons)

October to December 2022

1,700 - 1,900

800 - 1,000

2,500 - 2,900

January to March 2023

2,600 - 2,800

3,500 - 3,700

6,100 - 6,500



Progressively, the Company will aim to reach the name plate 8,000 tons per quarter flake graphite output from the operations. Any further CAPEX requirements in order to achieve this growth in capacity are expected to be met from the internal resources generated out of the operations of the Company.



The Company will currently remain focussed on streamlining its operations and in seeking to achieve >90% capacity utilisation from its current and under development capacities, strengthen its projects continuously and engage with the markets. Development of the balance of 54,000 tons planned capacity across existing Madagascan projects will follow targeting the end of 2024 for completion.



Shishir Poddar, Executive Chairman, said:



"We are committed to continually innovating to ensure efficient operations, and the successful integration of the preconcentrate plant at Vatomina streamlines our production and strengthens our resilience against any adverse weather conditions.



We are pleased to announce our increasing guidance on flake graphite production as we continue to work towards adding the balance of 54,000 tons of planned capacity across our existing Madagascan projects, targeting completion by the end of 2024. This progress will help us to achieve our long-term goal of producing circa 8% of the global flake graphite market or 400,000 tpa by 2030."

[the chairman elect] 23/9/2022 07:25

Roquefort Therapeutics (LSE:ROQ, OTCQB:ROQAF), the Main Market listed biotech company focused on developing first in class drugs in the high value and high growth oncology segment, is pleased to present its interim results for the six-month period ended 30 June 2022 (the "period" or "H1").



Highlights

· Collaborative work with Murdoch University, Western Australia to design and test a novel series of gene silencing reagents, antisense oligonucleotides, targeting Midkine

· Positive pre-clinical trials results demonstrated that the Company's lead oligonucleotide drug candidates significantly reduce Midkine levels seen in human cancer cells

· Portfolio review including the Midkine antibody programs to assess commercial potential

· Midkine patent filed following positive pe-clinical in vitro trials

· Significantly strengthened the Board with two highly experienced sector NED appointments, Jean Duvall and Simon Sinclair

· Professor Trevor Jones appointment as advisor to the Board

· Announced on 22 June 2022 a conditional share sale and purchase agreement with the shareholders of Oncogeni Limited ("Oncogeni"), a UK biotech company developing novel patented cancer medicines and a placing to raise £1 million at a price of 14p per share

· Cash at period end of £3,328,573 and for the 6 months to 30 June 2022, net loss of £762,281



Post Period End Highlights

· Completion of Oncogeni acquisition for £5.5 million, a successful £1 million fundraise and key board appointments:

o Ajan Reginald as CEO and Professor Sir Martin Evans as Group Chief Scientific Officer, Darrin Disley as NED

· Company has pivoted towards a material oncology business with four fully funded, novel, patent-protected pre-clinical anti-cancer medicines

· Near-term clinical trial application and licensing opportunities from advanced stage of development of Midkine and siRNA products

· State of the art facility located in Stratford-upon-Avon which has the infrastructure required for the pre-clinical development of the Group's portfolio of antibodies, oligonucleotides and cell and gene therapies

· On 15 July 2022, the Company announced that trading in the Company's Ordinary Shares had commenced on the OTCQB Venture Market in the United States with the ticker: ROQAF

Outlook

· Potential to drive significant value from our novel oncology programs

· Management is targeting clinical readiness for one of its development programs during H2 2023

[sweepie2] 23/9/2022 07:12

23 September 2022

Tern Plc

("Tern" or the "Company")

Unaudited Interim Results for the six months to 30 June 2022

Tern Plc (AIM: TERN), the company focused on value creation from Internet of Things ("IoT") technology businesses, is pleased to announce its unaudited interim results for the six months to 30 June 2022 (the "Period').

Highlights

-- Progress across the network of companies(1) in the Period:
o Aggregated Monthly Recurring Revenue ("MRR") for the network of companies in the six months to 30 June 2022 increased by 112% which reflects encouraging growth in recurring revenue contracts as the companies further transitioned from configuration work to a licencing model. MRR is recognised over a longer period than initial configuration work and therefore can impact recognised revenue initially. Turnover of the portfolio companies in the six months to 30 June 2022, declined by 12% compared to the first half of 2021 which further reflected that change as short-term one-off revenue (such as configuration work) is being replaced by longer-term recurring revenue (such as licence fees) spread over the life of the contract .

o The period-on-period increase in the number of employees within the portfolio companies, a key growth measurement, was 52% in the six months to 30 June 2022 (six months ended 30 June 2021: 14%). This was supported by an increase in MRR per employee of 40%, highlighting that the increase in employee growth was matched by a higher growth in MRR.

-- GBP0.8 million (six months to 30 June 2021: GBP0.7 million) was invested by Tern in its existing network of companies during the Period, supporting their growth and development.

-- Assets under management were GBP30.2 million as at 30 June 2022, which was a marginal decrease from 31 December 2021 (GBP30.6 million). This included fair value increases for FundamentalVR and Device Authority (exchange rate related) and a fair value decrease for Wyld Networks. Wyld Networks is traded on an active financial market and its fair value is determined by the market price on the reporting date.

-- The reduction in assets under management was also a key driver of a reduction in net asset value per share from 9.2p at 31 December 2021 to 8.5p at 30 June 2022.

-- During the Period, the Company agreed to participate in a new venture capital fund, the Sure Valley Ventures UK Software Technology Fund, with a commitment to invest up to GBP5 million over the 10-year life of the fund.

-- FundamentalVR raised a total of GBP7 million in a Series B fund raise from existing investors and a new institutional investor, with the Company securing a valuation uplift of 35% from the previous book valuation. This was followed by an additional GBP5 million tranche of the Series B at the same valuation in early Q3 2022.

-- Wyld Networks raised approximately SEK 25.2 million (approximately GBP2.0 million) upon exercise of 98.6% of its outstanding T01 Warrants. The business has continued to perform strongly, with further commercial traction. The company also expanded its strategic industry positioning by entering into connectivity partnerships with Eutelsat Communications, Senet Inc and TrakAssure to form the Multimodal IoT Infrastructure Consortium(TM) ("MMIIC").

-- Talking Medicines completed a GBP1.59 million syndicated equity fundraise during the Period, in which Tern contributed GBP0.4 million, primarily to support its planned expansion in the USA.

-- Device Authority has continued its positive business momentum following the strategic investment from Venafi, announced on 2 December 2021, with the business being particularly focussed on growing its MRR through its subscription base and its modularised licence platform, KeyScaler(R).

-- InVMA is now trading as Konektio and following the GBP2.125 million equity fund raise, announced on 20 December 2021, the business has continued to see strong demand for AssetMinder(R).

Al Sisto, CEO of Tern Plc, said:

"Despite the current difficult macroeconomic environment, our optimism around the potential in Tern's investment strategy and our network of companies remains undimmed and we continue to strongly believe that shareholder value will accrue from our exciting network of companies. They have all made strong progress in the period and a number have made substantial steps forward in pivoting their business models away from one-off licence fees, to monthly recurring revenues, as their offerings have gained further market traction and relevance. Growth in this significant repeat business is what we believe is leading to increases in the valuations that they will be able to attract and attracting new investors to participate in the continued growth of our investee companies.

"As customer interest and market interest continue to expand, our companies are proving attractive to a broader set of investors, both those that are existing shareholders in our companies and potential new ones that approach our network of companies' management teams. The majority of these investors have significantly greater financial firepower than Tern. It is therefore important that we continue to have the resources to invest in our companies, both financially and through the other assistance we provide, in order to protect Tern's early position, for the benefit of our shareholders.

"Our 'more than funding' model has achieved, and is achieving, results. This includes completion of the first Series B round achieved by one of our portfolio companies. The Series B funding round by FundamentalVR, represented the culmination of our change in funding strategy adopted in 2017. We have an evergreen open-ended model, investing in seed, late seed, Series A and in some cases Series B rounds, where we are able to obtain larger ownership positions by investing at these earlier risk capital stages. Then, using our hands on approach and smaller follow-on investments, we help position our portfolio companies for growth via Series C and beyond investments, which we believe will ultimately result in exits of much greater value for our shareholders and their entrepreneurial founder partners.

"The goal of our model, at the point portfolio companies reach sufficient maturity, is to provide our shareholders with continuous access to returns as we exit investments and an appropriate time and ultimately acquire new early positions in further companies. The proposed acquisition of Pires investments would, in our opinion, have been a strong and exciting example of alternative and faster routes to value creation, although given that the conditions of the recommended all share offer were not satisfied, we are now focused on other ways to build long term value for Tern shareholders.

"These are exciting times for Tern's portfolio companies and I look forward to reporting on further progress in due course."

Online Investor Presentation and Q&A Session

Tern's management and management from certain of Tern's network of companies will be hosting an online presentation and Q&A session at 5p.m. BST on Monday 26 September 2022. This session is open to all existing and prospective shareholders.

Those who wish to attend should register via the following link where they will be provided with access details:

hxxps://us02web.zoom.us/webinar/register/WN_Q8BHIKzjSpqKDFwyOPxeiA

Participants will have the opportunity to submit questions during the session, but questions are welcomed in advance and may be submitted to: [e-mail].

Note 1: Our 'network of companies' or 'our companies': Device Authority Limited, Wyld Networks AB, InVMA Limited (trading as Konektio), FVRVS Limited (trading as FundamentalVR) and Talking Medicines Limited, which are companies Tern has interests in and excludes Push Technology Limited, in which Tern has a <1% holding and minimal influence.

[the chairman elect] 22/9/2022 08:05

In oil and gas, the tightening hydrocarbons' supply-demand balance promises a revival of exploration and the farm-out market. Shortages of piped gas and LNG feedstock have driven prices to record levels. There has rarely been a better time to hold prospective acreage.



The resurgence of interest in African exploration and development may lead to additional proposals in the coming months.



In summary, Clontarf progresses its interests in Bolivia, Australia, Chad and Ghana, maintaining cordial communications with the relevant authorities, and continues to operate efficiently on minimal expenditure.

[sweepie2] 22/9/2022 07:11

Thu, 22nd Sep 2022 07:00

RNS Number : 2041A
ValiRx PLC
22 September 2022

22 September 2022



ValiRx PLC ("ValiRx" or the "Company")



Live Shareholder Q&A and industry events



Live Q&A: London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on early-stage cancer therapeutics and women's health, invites shareholders to join the CEO, Suzy Dilly and Shareholder Representative, Adam Hargreaves in a Zoom webinar on 29 September 2022 at 1pm (UK).

Registration prior to the event is recommended to ensure all notifications about the webinar are received by participants. Please register in advance of the event at: hxxps://us02web.zoom.us/webinar/register/WN_LnCNxEbBSMOjzzYMxddhLA.

These registration details will also be available on the ValiRx website (hxxps://www.valirx.com/contact). The format will comprise a "fireside chat" between Dr Dilly and Professor Hargreaves by the Company with shareholders invited to submit their questions prior to the event, or to activate their webcam and speak directly to ask their additional questions during the session. A recording of the event will be available to view from the ValiRx website shortly after the event concludes.

Industry Events: ValiRx participants are registered to take part in the Bio-Europe partnering conference in October (in-person) and November 2022 (virtual), seeking new project opportunities and introducing our expanded team and pipeline to other industry participants. Dr Dilly is also attending the BioTech Outsourcing Strategies conference in Manchester in November, where she is chairing a session of presentations.

The Directors of the Company take responsibility for this announcement.

[the chairman elect] 21/9/2022 12:02

FTSE 100 SHELL OIL & GAS partner in the North Sea namely LSE:DELT is taking off....

[the chairman elect] 21/9/2022 10:56

LSE:FRG //// LSE:KOD //// ASX:CAI

SP Angel . Morning View .

Lithium prices continue to heat up as Pilbara reports record spodumene concentrate auction

A rally in the prices of key lithium products for EV batteries is regaining steam following a slowdown this summer.

Pilbara Minerals was offered $7,708/t from a Chinese buyer for its spodumene concentrate.

A similar auction in August saw a bid of $7,012/t.

Refined lithium prices in China have touched new highs this week as EV makers ramp up finished product costs.

Chinese authorities have already suggested a price intervention if lithium prices continue to extend gains.

[noirua] 21/9/2022 09:53

Blue Capital BLU has gone wrong as Mr. Mark White a substantial holder has reduced so sold for a 9% loss. Difficult to say now though Pendulum news is due on Thursday...

[noirua] 21/9/2022 09:50

Webis WEB shares are starting to move up after being sold down - looking really cheap guys.